How did the public benefit from the federal securities act

The Federal Securities Act was passed in 1933 few years after the stock market crash. It was passed to regulate the stock market. President Roosevelt said the law will amend some loopholes and prevent further exploitation of the public.

The act gave the federal government power instead of the States.

The act also created a uniform set of rules to protect investors against fraud

The benefit is that fraud was less likely to happen and legit businesses would become even more common